It's a sight to behold! Hasn't broken the trendline once.... Gets within a couple of dollars then bounces hard. All day.... There's absolutely nothing else working and investors are being brutally forced into buying the barbarous relic!
I don't think so. I think the oil stocks will take several months before they start recovering. There's literally nowhere left for oil to be stored. They wont be able to give it away soon if they don't slow down production. The Saudi's have quite literally flooded the market.
I agree. Everything is a mess and the fed has completely lost control. Congress seems to be telling them to join the other central banks and start negative rates (not necessarily for the right reasons but....). Oil finally turning up will probably be the time to pull back on gold but that will not be for a while. There isn't really any reason NOT to own gold right now.
Lesss - I'd say this news you found and the Diaka news reported is the reason why IAG is easily outperforming every other miner on my watchlist..... Imagine it Letwin is sent back to the energy sector and IAG gets an actual gold CEO in place..... 800 oz, plus Diaka in 2017, plus a fix for Westwood.... I think IAG is finally going to sell out to a bigger outfit who can monetize the assets.
Well, it almost got down to the 1180 I anticipated and it's bounced pretty hard, as anticipated. However, I know look at the fundamentals:
- Dow up 100 points
- Yellen not very dovish
- USD up a little and probably due a short term bounce
The miners are still very much undervalued but I cannot see how a short term drop can be avoided base on these fundamentals. I will wait until POG retests that 1180 area before buying back shares.
I have been waiting for a pullback in CDE. I like everything about this stock. I expect a shallow pullback in pog, maybe 1180, so I'll be keeping an eye on this one.
Thanks for the tip. I held my nose and bought quite a bit. I didn't do the usual extensive DD because I figure all the bad news might be priced in and if GOLD pulls back on Monday, this one might actually work as a hedge!
Yep. I will need to be reminded about the torture as we ascend towards 12. I see a 10% one day gain and hit the sell button. But I do think these boards help in that regard.
I agree. I expect more write downs and lower pps. I'd be a buyer in the lower 23-25 range.
Do they count their future contracts as assets? Is that what their big write down related to, a future $1B contract which was cancelled?
His hubris is costs shareholders a lot of money as well as his general blunders..... I learnt a big, expensive lesson owning IAG - when it's obvious that the CEO of a company is a complete buffoon, do not touch it, at any price! Of course, I'm sticking with it now because the laws of probability would have to be re written if Letwin doesn't get something right soon......
If past is prologue, these stocks certainly will not go up in a straight line. Don't forget, Greece defaulted (for a day) and gold didn't even move. Yes, I agree, the long termers on this board should probably be trading some shares (I certainly am) but I just hope they are still here when IAG hits 12 sometime in 2017.
It's very difficult not to take some $ off the table after what we've been through over the past couple years. However, you do need to maintain some discipline and maintain a fairly large long position (as you have) otherwise it will have all been for nothing..... As I have said before, the PM miners will be overbought as much as they were oversold, so just remind yourself before you sell, exactly how brutal some of the sell off's were. We're by no means out of the woods. We've been here before, taking out 200 DMA's, gold up 7 or 8% in a month etc. but 5 years is a long time for a gold bear market and it has to hold up sometime.